NPD Lecture 1

8/8/2019 NPD Lecture 1

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New ProductNew Product

DevelopmentDevelopment

MBA ProgramMBA Program

Hammad AshrafHammad Ashraf


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New Product DevelopmentNew Product Development

Master of Business Administration.Master of Business Administration.

Marketing Specialization.Marketing Specialization.

Consultation Hours:Consultation Hours:

Wednesday; 11:00 a.m.Wednesday; 11:00 a.m. 1:00 p.m.1:00 p.m.


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IntroductionIntroduction

New Products:New Products:

Intel chips, fiber optics.Intel chips, fiber optics.

Lemon flavored cola, new flavor of frozenLemon flavored cola, new flavor of frozen

yogurt.yogurt.

New Product Development:New Product Development:

Orderly process.Orderly process.

Just got lucky!Just got lucky! PostPost--it Note, Microwave Ovenit Note, Microwave Oven

Managerial Perspective:Managerial Perspective:

Downsizing, regulatory actionsDownsizing, regulatory actions

Crawford, New Products Management, 2003Crawford, New Products Management, 2003


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New product designing and developmentNew product designing and developmentas a business discipline.as a business discipline. 100 billion $ in technical phase.100 billion $ in technical phase.

High failure rate of new products (40%High failure rate of new products (40%--90%).90%).

New product success defines theNew product success defines thecompetitive advantage.competitive advantage.

How to escape a price war?How to escape a price war? Challenges, issues, threats andChallenges, issues, threats and

opportunities in new productopportunities in new productdevelopment.development.


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The entrepreneurial mind.The entrepreneurial mind.

The South Asian context andThe South Asian context and

entrepreneurial action.entrepreneurial action.Critical success factors in newCritical success factors in new

product development.product development.

Common reasons for failures.Common reasons for failures.New product evaluation processesNew product evaluation processes

and feasibility testing.and feasibility testing.


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ObjectivesObjectives

Describe how the new productDescribe how the new productdevelopment process isdevelopment process isinterconnected with the firm'sinterconnected with the firm's

strategic directions.strategic directions. Single goalSingle goal. sales, engineering &. sales, engineering &manufacturing staff.manufacturing staff.

Explain the critical issues ofExplain the critical issues ofmanaging a creative environmentmanaging a creative environmentwhich is important in innovation.which is important in innovation.


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ObjectivesObjectives

Interpret the output from ideaInterpret the output from ideageneration, product screeninggeneration, product screeningand evaluation methods.and evaluation methods.

Understand the importance ofUnderstand the importance ofdevelopment and launch of newdevelopment and launch of newproducts.products.

Ensure the new productEnsure the new productdevelopment process adheres todevelopment process adheres tosound ethical principals andsound ethical principals andconforms with public policy issues.conforms with public policy issues.


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Course StructureCourse Structure

Four credit hours workload.Four credit hours workload.

Lectures.Lectures.

Case Studies.Case Studies.

Articles.Articles.

Group Discussions &Exercises.Group Discussions &Exercises.


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AssessmentAssessment

Class TestsClass Tests 20%20%

Class ParticipationClass Participation 20%20%

Research ProjectResearch Project 30%30%

Final ExaminationFinal Examination 30%30%


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Case Studies & ArticlesCase Studies & Articles

To show the practical application ofTo show the practical application ofconcepts.concepts.

Linking the other core areas ofLinking the other core areas ofbusiness with new productbusiness with new productdevelopment concepts.development concepts.

Collective wisdom of the class isCollective wisdom of the class is

much higher as compared to that ofmuch higher as compared to that ofan individual.an individual.


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Class TestsClass Tests

The criteria mostly ignored by theThe criteria mostly ignored by thestudents.students.

Conducted randomly throughout theConducted randomly throughout thesemester.semester.

Have major impact on the studentsHave major impact on the studentsgrade.grade.

Can be multiple choice questions,Can be multiple choice questions,case studies or structured questions.case studies or structured questions.


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Class ParticipationClass Participation

To participate in intellectualTo participate in intellectualdiscussions in the class (with a focusdiscussions in the class (with a focuson case studies and articles).on case studies and articles).

Criteria; attendance, participation inCriteria; attendance, participation inthe class, level of motivation andthe class, level of motivation andpositive behavior of the student.positive behavior of the student.

The case study and articlesThe case study and articlesdiscussion will constitute majordiscussion will constitute majorportion of the participation.portion of the participation.


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Group ProjectGroup Project

To conduct research on new productTo conduct research on new productdevelopment trends and policiesdevelopment trends and policies

within local industry.within local industry.NewNew product development strategy ofproduct development strategy of

firm operatingfirm operating in Lahore.in Lahore.

Project is to be presented in lastProject is to be presented in lastweek.week.

Details to be provided in the lecture.Details to be provided in the lecture.


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Final ExaminationFinal Examination

Final examination will be conductedFinal examination will be conductedin final week and will include allin final week and will include alltopics covered during the course.topics covered during the course.

It will include questions from caseIt will include questions from casestudies and articles.studies and articles.

Will be a combination of MCQs,Will be a combination of MCQs,

structured questions and casestructured questions and casestudies.studies.


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Getting HigherGradesGetting HigherGrades

Weekly group meetings to completeWeekly group meetings to completeclass assignments, case studies,class assignments, case studies,articles and projects.articles and projects.

Maintaining full attendance in classMaintaining full attendance in classand actively and positively participateand actively and positively participatein class.in class.

Positive and healthy attitude on thePositive and healthy attitude on thecampus.campus.

Weekly individual/group meetingsWeekly individual/group meetingswith the Instructor regardingwith the Instructor regarding

academic issues.academic issues.


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Resources & ReadingsResources & Readings

Crawford, M.C. & DiCrawford, M.C. & Di BenedettoBenedetto, C.A.,, C.A.,2003,2003, New Products ManagementNew Products Management,,7th edition,7th edition, McGraw Boston, USA.McGraw Boston, USA.

Schwartz E.I., 2004,Schwartz E.I., 2004, Juice; TheJuice; TheCreative Fuel That Drives WorldCreative Fuel That Drives World--Class InventorsClass Inventors,, Harvard BusinessHarvard BusinessSchool Press, USA.School Press, USA.

Ulrich K.T.,Ulrich K.T., EppingerEppinger S.D., 2004,S.D., 2004,Product Design and DevelopmentProduct Design and Development,,Third Edition,Third Edition, McGraw Hill, USA.McGraw Hill, USA.


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Contact DetailsContact Details

Although students are encouragedAlthough students are encouragedto discuss the academic issues withto discuss the academic issues withthe Instructor in University, followingthe Instructor in University, followingcontact details are provided in casecontact details are provided in caserequired:required:

Mobile phone: 0333Mobile phone: 0333--57578575757857

EE--mail: [email protected]: [email protected]


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The End.The End.

Documents

NPD Lecture 1